The Home Front

10 Most (and Least) Affordable Housing Markets

By Luke Mullins

Posted: September 3, 2008

The National Association of Home Builders and Wells Fargo recently released a joint report ranking the nation's most—and least—affordable housing markets in the second quarter of 2008.

Here's what they found:

Areas with population of 500,000 or more in 2007

10 Most Affordable Metro Areas

  1. Indianapolis-Carmel, IN
  2. Youngstown-Warren-Boardman, OH-PA
  3. Detroit-Livonia-Dearborn, MI ^^^
  4. Warren-Troy-Farmington Hills, MI ^^^
  5. Grand Rapids-Wyoming, MI
  6. Toledo, OH
  7. Dayton, OH
  8. Akron, OH
  9. Syracuse, NY
  10. Scranton—Wilkes-Barre, PA

10 Least Affordable Metro Areas

  1. New York-White Plains-Wayne, NY-NJ ^^^
  2. San Francisco-San Mateo-Redwood City, CA ^^^
  3. Los Angeles-Long Beach-Glendale, CA ^^^
  4. Miami-Miami Beach-Kendall, FL ^^^
  5. Nassau-Suffolk, NY ^^^
  6. Santa Ana-Anaheim-Irvine, CA ^^^
  7. Newark-Union, NJ-PA ^^^
  8. San Jose-Sunnyvale-Santa Clara, CA
  9. Oxnard-Thousand Oaks-Ventura, CA
  10. Seattle-Bellevue-Everett, WA ^^^

Areas with population under 500,000 in 2007

10 Most Affordable Metro Areas

  1. Canton-Massillon, OH
  2. Springfield, OH
  3. Bay City, MI
  4. Lansing-East Lansing, MI
  5. Lima, OH
  6. Davenport-Moline-Rock Island, IA-IL
  7. Battle Creek, MI
  8. Monroe, MI
  9. Cumberland, MD-WV
  10. Saginaw-Saginaw Township North, MI

10 Least Affordable Metro Areas

  1. San Luis Obispo-Paso Robles, CA
  2. Ocean City, NJ
  3. Napa, CA
  4. Santa Cruz-Watsonville, CA
  5. Salinas, CA
  6. Bend, OR
  7. Atlantic City-Hammonton, NJ
  8. Medford, OR
  9. Santa Rosa-Petaluma, CA
  10. Santa Barbara-Santa Maria-Goleta, CA

Sales Transaction Data: First American Real Estate Solution
Interest Rates: Federal Housing Finance Board
Median Household Income: Housing & Urban Development Department (HUD)
Property Taxes & Insurance: Bureau of the Census
Population: Bureau of the Census
^^^ Indicate Metropolitan Divisions. All others are Metropolitan Statistical Areas.

Santa Maria beautiful?

Did you say that Santa Maria is a beautiful bedroom community? Dont want to be lumped with Santa Barbara? Look at the headlines this week in Santa Maria. There has been killings, stabbings, hit and runs, gang activities. In fact-look at the headlines every day in Santa Maria. There isn't a small city anywhere that has as many gang related activities as Santa Maria. 60% of the town is hispanic. Most hispanics are peaceful hard working family people-but the ones in Santa Maria. They are hoodlum gang members.

2 things happen when you step outside in Santa Maria:

You either get shot

or you get overwhelmed from the rotting smell of the surrounding vegetable fields.

The person who said Santa Maria is a beautiful bedroom comunity must be a politician or real estate developer. Get it straight.

of CA @ Dec 10, 2008 21:16:43 PM

Fairfield County, CT

I grew up in Westport, CT. I now live in Westchester County, ny with my husband.

Fairfield county is the least affordable place to live. It's not reality, beautiful, but i was jaded. You cant get anything for under $1 million there.

Westchester is beautiful, but people need to check out Greenwhich, Darian, New Cannan, Westport, Southport, you'll be speachless!!!

Now, that's livin!

j p of CT @ Oct 11, 2008 12:29:27 PM

affordable areas

There is a difference between affordable housing and quality of life. Raw sewage in our waters can be found in San Diego as well as Youngstown.

No matter where you live if your income falls below the area median income affordable housing may be a luxury you can't afford. Food, health care and transportation may consume a larger proportion of a low-to-moderate income.

Government, conventional and non-profit low down payment and down payment assistance available every where in the country are under utilized and frequently unknown. Finding real estate agents, loan officers and public servants who are willing to take the time and complete the additional required paper work is also an issue.

Low-to-moderate income may not have access to computers or speak english as a first language. Emailing a loan application won't work with this socio-economic group. Creative marketing and community outreach are needed.

Green, safe, decent and affordable housing for every family should be one of our national goals. This isn't the case at the moment, but with time, work and effort it can be.

Yasmin Sabur

developer

myhomedownpayment.com

yasmin sabur of CA @ Sep 23, 2008 00:15:39 AM

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